Add or Subtract $\frac { 8 x - 8 } { x + 4 } + 1$

question 10

Multiple Choice

Add or subtract.
- $\frac { 8 x - 8 } { x + 4 } + 1$

• A) \(\frac { 8 x + 4 } { x + 4 }\)
• B) \(\frac { 7 x - 4 } { x + 4 }\)
• C) \(\frac { 9 x - 4 } { x + 4 }\)
• D) \(\frac { 8 x - 4 } { x + 4 }\)

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Definitions:

Economic Profit

The difference between a firm’s total revenue and its opportunity costs (including both explicit and implicit).

Long-run Average Total Cost

The total cost per unit of output when all factors of production are variable, and economies of scale have been achieved.

Average Total Cost Curve

A graphical representation showing how the total cost of production per unit of output changes with the level of output.

Long-run Equilibrium

occurs when all firms in a market or industry are producing at their most efficient level, with no incentive for entry or exit, and economic forces are balanced.